California Public Employees Retirement System cut its position in shares of Tesla Inc. (NASDAQ:TSLA) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 308,539 shares of the electric vehicle producer’s stock after selling 200 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Tesla worth $85,866,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Comerica Bank boosted its position in shares of Tesla by 262.9% in the fourth quarter. Comerica Bank now owns 7,037 shares of the electric vehicle producer’s stock worth $1,673,000 after buying an additional 5,098 shares in the last quarter. Perigon Wealth Management LLC boosted its position in shares of Tesla by 4.5% in the fourth quarter. Perigon Wealth Management LLC now owns 7,951 shares of the electric vehicle producer’s stock worth $2,000,000 after buying an additional 341 shares in the last quarter. Lincoln National Corp acquired a new position in shares of Tesla during the first quarter worth about $226,000. UBS Asset Management Americas Inc. boosted its position in shares of Tesla by 9.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 290,524 shares of the electric vehicle producer’s stock worth $62,082,000 after buying an additional 25,012 shares in the last quarter. Finally, Gemmer Asset Management LLC boosted its position in shares of Tesla by 8.3% in the first quarter. Gemmer Asset Management LLC now owns 759 shares of the electric vehicle producer’s stock worth $211,000 after buying an additional 58 shares in the last quarter. 63.77% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Shares of Tesla Inc. (NASDAQ:TSLA) opened at 376.40 on Thursday. Tesla Inc. has a 12-month low of $178.19 and a 12-month high of $384.25. The stock has a 50 day moving average of $334.64 and a 200-day moving average of $275.06. The firm’s market capitalization is $61.83 billion.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $1.30. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. On average, equities research analysts predict that Tesla Inc. will post ($5.80) EPS for the current fiscal year.

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A number of brokerages recently issued reports on TSLA. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 target price for the company in a research report on Tuesday, June 13th. Robert W. Baird reiterated an “outperform” rating and set a $368.00 target price on shares of Tesla in a research report on Tuesday. BidaskClub cut shares of Tesla from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley reiterated an “equal weight” rating and set a $305.00 target price on shares of Tesla in a research report on Monday, June 12th. Finally, Global Equities Research reiterated a “buy” rating and set a $385.00 target price on shares of Tesla in a research report on Tuesday, June 13th. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $288.17.

In other Tesla news, insider Jeffrey B. Straubel sold 106,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $307.44, for a total value of $32,588,640.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 2,500 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $286.28, for a total value of $715,700.00. Following the completion of the sale, the director now directly owns 170,546 shares in the company, valued at $48,823,908.88. The disclosure for this sale can be found here. Insiders sold 242,791 shares of company stock worth $74,745,344 over the last three months. Corporate insiders own 23.10% of the company’s stock.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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